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20120901
20120930
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the commerce department and what it showed was that the median price of a newly constructed home is at $257,000. that's a jump up 11% from july to august. now, a few reasons for these higher prices. less of a supply of homes on the market and that means more people are going after fewer properties. plus, mortgage rates are at record lows. that's a real good incentive to get people out there to buy. also, an increasing number of buyers. they just haven't been able to find previously owned homes that they like, they are opting to go brand-new and those are traditionally more expensive. victor? >> good news for the housing market. what impact did this have on the overall economic outlook? >> no doubt about it. housing is really a critical component and manufacturing is what pulled us out of the recession and economists, they want to see them pass the baton. that's really important for consumer spending because when people feel like their home is worth more, they feel wealthier and they tend to spend more and that's something our economy needs. a direct correlation with the job's market. people
Search Results 0 to 1 of about 2 (some duplicates have been removed)